Syzygy Plasmonics has announced a strategic investment agreement with Mitsubishi Heavy Industries, Ltd. (MHI), which will be carried out through Mitsubishi Heavy Industries America, Inc. (MHIA). The agreement formalizes Syzygy's relationship with MHIA, providing the worldwide multinational engineering and manufacturing technology firm with better visibility into Syzygy's strategic ambitions as well as the chance to assist Syzygy's business execution strategies.
"MHIA has been making moves to establish themselves as one of the leaders in the energy transition," said Syzygy Chief Executive Officer Trevor Best. "Formalizing our relationship with them shows their commitment to helping scale cutting edge technology and opens up new avenues for Syzygy and MHIA to work together as we commercialize our industrial decarbonization platform."
Syzygy Plasmonics is a deep-decarbonization company. It builds reactors that use light instead of heat to electrify chemical manufacturing and power a cleaner, safer world. Utilizing technology licensed from Rice University and advanced engineering, Syzygy is commercializing a universal photocatalytic reactor platform. When powered with renewable electricity, this tunable technology is designed to reduce both cost and emissions from many different chemical reactions. Starting with solutions designed to consume greenhouse gases and produce low- and zero-emissions hydrogen, the company's mission is to create a world where chemicals, fuels, and fertilizer are low cost, carbon neutral, and accessible to everyone, as per Syzygy Plasmonics
Mitsubishi Heavy Industries Group is dedicated to developing a business that contributes to the realization of a decarbonized society by investing in and partnering with a variety of partners using new technology. This investment will assist Syzygy Plasmonics in accelerating commercialization and continuing to develop breakthrough alternative technologies, particularly those that contribute to the hydrogen and CO2 ecosystems.